Flash News

TREE NEWS update: Chinese Foreign Ministry spokesperson Guo Jiakun said Beijing advocates open cooperation and is committed to keeping global industrial and supply chains stable and secure, responding to German Chancellor Merz’s China-related remarks at a regular press briefing. Guo said China-Germany and China-EU economies are complementary and their industries interlinked, with pragmatic cooperation delivering mutual benefit. He urged Germany and the EU to remain objective and rational, move toward China, resolve differences through dialogue and consultation, and act as reliable, predictable partners.

TREE NEWS reports: UBS Group reported third-quarter net profit of $2.69 billion for the three months to end-September, slightly below expectations, after a volatile quarter. Client inflows at its wealth management unit reached $55.1 billion, beating forecasts, driven mainly by Asia-Pacific and the Americas. The Zurich-based bank gave investors few clues on the size of its next share buyback program.

TREE NEWS update: Thailand’s central bank kept its policy rate unchanged at 1%, saying the current level is appropriate to support economic recovery. The rate committee said an accommodative monetary stance plus targeted financial measures would help growth that remains uneven, and flagged rising inflation risks from oil prices and El Niño. It also said it will monitor the long-term macro-financial stability impact of low rates.

TREE NEWS update: China’s Ministry of Commerce convened a national video and telephone conference on October 28 to advance the trade-in program for consumer goods, reviewing progress and outlining next steps. Assistant Minister Yuan Xiaoming attended and delivered remarks, while commerce authorities from Hebei and Zhejiang shared their experiences.

TREE NEWS update: Yemen’s Houthi group said on 27 March it attacked multiple targets in Saudi Arabia, including the Saudi Ministry of Defense and Abha International Airport in the southwest, using ballistic missiles and drones. Chinese Foreign Ministry spokesperson Guo Jiakun said on 28 March at a regular press briefing that China is deeply concerned about the continued regional tensions, opposes attacks on civilian targets such as civil aviation airports, and calls on relevant parties to resolve disputes through dialogue and negotiation to restore peace and stability in the Middle East as soon as possible.

TREE NEWS reports: JPMorgan Private Bank’s Asia head of rates and FX strategy, Tang Yuxuan, said gold still faces downside risk after the latest selloff because liquidity remains thin and rates have room to rise. She said gold will form a solid floor once rates peak. The bank expects the Federal Reserve to hike in December and again in Q1 2027, pushing the 10-year Treasury yield from just above 5% to a peak of 5.25%-5.5% by mid-2027.

TREE NEWS update: Ukrainian President Volodymyr Zelensky said Ukraine will not attack Russian vessels transporting diesel to the United States. The statement rules out strikes on tankers carrying fuel cargoes bound for the US, a category of target Kyiv has previously not excluded. No further details or conditions were provided.

TREE NEWS reports: China’s treasury futures closed marginally higher on the day, with the 30-year main contract up 0.04%. The 10-year contract gained 0.03%, the 5-year rose 0.02% and the 2-year added 0.01%.

TREE NEWS update: Beijing’s municipal government issued its 15th Five-Year Plan for a new energy system, targeting perovskite solar cell and high-efficiency PV module R&D and equipment manufacturing, and the promotion of building-integrated photovoltaics. The plan also calls for advancing solid-state and flow battery technology and sets a new-type energy storage installed capacity target of 600,000 kilowatts.

TREE NEWS update: A gendarmerie officer guarding the Israeli embassy in Serbia shot and killed an unidentified minor who attacked him with two knives at 12:15 a.m. local time on Oct. 28, Serbia’s Interior Ministry said. The officer was wounded in the face during the assault and acted in self-defense. Serbia raised its counter-terrorism threat level to the highest grade and reinforced police deployment at key locations, Interior Minister Ivica Dacic said.

TREE NEWS update: Beijing will require all newly built computing centers to run entirely on green electricity, according to the municipal government’s 15th Five-Year Plan for a new energy system. Existing data centers must cut power usage effectiveness to 1.35 or below, and energy and carbon efficiency per unit of computing power must reach international advanced levels. The plan also calls for coordinated energy and computing resource planning and low-carbon upgrades to telecom base stations and equipment rooms.

TREE NEWS update: Beijing’s municipal government issued its 15th Five-Year Plan for a new energy system, aiming to raise inbound green electricity to 71 billion kWh. The plan calls for accelerating out-of-city green power bases, pushing the Northeast Songliao clean energy base-to-North China transmission project into operation, starting construction on a line from Inner Mongolia’s Hunshandake sandy land to Beijing, and scaling cross-provincial green power trading.

TREE NEWS update: Swiss Confederation President Guy Parmelin will make a working visit to China from October 30 to November 1, China’s foreign ministry spokesperson announced. The visit was confirmed in a statement carried by state broadcaster CCTV. No further details of the trip’s agenda were disclosed.

TREE NEWS reports: Stellantis reported third-quarter adjusted operating income of €256 million, up from €90 million a year earlier and above the €210.5 million estimate. Adjusted operating margin rose to 0.7% from 0.2%, versus a 0.47% forecast. The automaker posted a net loss of €453 million, while net revenue rose 1.1% year on year to €37.61 billion, beating the €36.43 billion estimate.

TREE NEWS reports: Combined turnover across the Shanghai and Shenzhen stock markets reached 1.628 trillion yuan ($229 billion) on October 28. The Shanghai exchange accounted for 751.0 billion yuan, while the Shenzhen exchange contributed 877.5 billion yuan. The ChiNext board alone recorded 454.0 billion yuan in trading volume.

TREE NEWS update: The Agricultural Development Bank of China issued 8 billion yuan of 3-year bonds at a yield of 1.2319%, versus an expected 1.2300%, with a bid-to-cover ratio of 1.98 and a marginal ratio of 4.44. It also issued 4.5 billion yuan of 10-year bonds at 1.6344%, below the expected 1.6500%, with a bid-to-cover ratio of 8.09 and a marginal ratio of 1.34.

TREE NEWS reports: China’s ChiNext Index rose 3.4% on heavy volume Monday as the three major mainland benchmarks rebounded, with more than 4,100 stocks across the Shanghai, Shenzhen and Beijing exchanges closing higher and combined turnover reaching 1.64 trillion yuan. The Shanghai Composite added 0.91% and the Shenzhen Component gained 2.02%. Robotics, semiconductor chip, computing hardware and AI animation shares led gains, while liquor, pork, insurance and brokerage stocks fell.

TREE NEWS reports: Ethylene glycol’s main contract rose more than 5% at the close of Chinese commodity futures trading, leading gains. PVC, asphalt, polypropylene and BR rubber each climbed over 3%. Lithium carbonate fell more than 4%, while caustic soda dropped over 3%.

TREE NEWS update: Thailand’s central bank kept its key policy rate unchanged at 1.00%, matching expectations. The decision leaves the benchmark rate at its existing level, with no change announced in the policy statement.

TREE NEWS reports: Germany’s GfK consumer confidence index for November came in at -30.8, below the expected -29 and slightly weaker than the prior reading of -30.6. The reading signals a modest deterioration in German consumer sentiment for the month.